Politics
THINK TANK: SENATOR MOHAMMED ALI NDUME’S DELIBERATE DISTORTION OF DEVELOPMENT LOANS DATA: SETTING THE RECORD STRAIGHT
Once again, the Independent Media and Policy Initiative (IMPI) finds it necessary to set the public record straight following Senator Mohammed Ali Ndume’s recent and deliberate misinterpretation of facts regarding Nigeria’s development loans, seemingly aimed at casting aspersions on President Bola Ahmed Tinubu’s reform agenda.
It is disappointing that Senator Ndume, now in his fourth consecutive Senate term, discussed Nigeria’s national debt without offering proper context or enlightening Nigerians. During a recent television interview, he questioned the rationale and transparency of borrowings totalling $9.45 billion (about N13 trillion) since June 2023.
With public concerns already heightened around government borrowing, it was incumbent on a senior legislator such as Senator Ndume to provide accurate and holistic information—especially when Nigeria’s total public debt, while rising to N144.67 trillion in local currency, actually declined in dollar terms from $108.23 billion at the end of December 2023 to $94.23 billion by December 2024. This signals a remarkable reduction of $14 billion within a year—an unprecedented fiscal achievement since 2006 that deserves acknowledgement, not a misrepresentation.
Rather than commend this historic reduction, Senator Ndume claimed, without substantiation, that these loans are being misapplied to so-called ‘non-tangible’ projects. This criticism is shortsighted, betraying a narrow understanding of the multifaceted nature of development. Development today is not limited to physical infrastructure alone but increasingly encompasses human capital—skills, knowledge, education, and health—that underpin a productive society and stronger economy.
Countries like India and China have surged by building roads or factories and investing in their people. Human capital development—expanding access to education, healthcare, social protections, gender inclusion, and agricultural productivity—drives lasting national prosperity.
Senator Ndume’s suggestion that only physical projects matter is not supported by development economics or Nigeria’s need for inclusive growth. Notably, the loans are not commercial bank advances but concessionary, development-backed loans from institutions like the World Bank—often with very low interest rates, extended maturities (up to 40 years), and multi-year moratoria. Such terms make these loans an efficient and responsible instrument for funding national development priorities that commercial lenders will not touch.
India and China, for instance, developed their technical capacity deliberately and strategically, understanding that human skills and knowledge would be their ultimate competitive trade advantage.
The soft and intangible projects funded by the federal government are as important as the “tangible, accountable” projects preferred by Senator Ndume.
Of course, we are sure that the Senator is conscious that those loans for intangibles that he mentioned are not commercially valued loans like those made available by commercial banks. Indeed, development-backed loans are classified as concessionary loans with usually long tenures, as long as 40 years, and interest rates as low as one per cent, sometimes with a four-year moratorium.
Naturally, no commercial bank is inclined to fund these aspects of human development because they have no basis for physical and commercial quantification. However, they constitute a significant pivot in human growth and sustainability. Realising the critical need to invest in human capital, multilateral agencies emerged to fill the fiscal gaps and address and facilitate investments focused on human capital development.
The lead entities in this sector are the World Bank and the International Monetary Fund (IMF). The World Bank seeks to help countries invest in and develop their people to be productive citizens and active economic contributors. The philosophical underpinning of the World Bank’s operations is prioritising investments in education, healthcare, and social protections to realise a stronger economy full of healthy, thriving adults. This forms the kernel of the World Bank loans to Nigeria.
Our analysis shows that World Bank loans accounted for nearly 80% of Nigeria’s multilateral debt in 2024, rising modestly from $21.15 billion in 2023 to $22.32 billion in 2024—a 5.5% increase, not the $9.5 billion figure Senator Ndume cited. Meanwhile, Nigeria’s IMF debt fell sharply from $2.47 billion to $800.23 million (-67.6%) over the same period.
This evidence supports the view that the Tinubu administration is not carelessly accumulating debt but carefully balancing securing new credit for critical sectors and reducing overall public debt. The administration should be recognised for prudent debt management and reform focus, not unfairly disparaged.
Additionally, Senator Ndume’s claim that these loans bypassed parliamentary scrutiny is inaccurate. The World Bank credit approval process requires approval by its internal arms (IDA or IBRD) and subsequent concurrence by Nigeria’s National Assembly before disbursement.
For the record, the World Bank approved six projects (valued at $4.25 billion) for Nigeria in 2024, but actual disbursements between 2023 and 2024 stand at just $2.36 billion—far from the $9.5 billion claimed
Beyond this, we find it somewhat disconcerting that the Senator made efforts in that interview to misrepresent and, as it were, politicise the value of the debt secured by the Tinubu administration from the World Bank, putting it at $9.5 billion since the administration’s inception in June 2023. This is inappropriate, as such propagation of deliberately concocted misleading figures against a government with the apparent purpose of disparaging it and, in the same token, inciting the people against the government should be discouraged.
Nigeria’s debt profile is a loud testimony of a government that is not about the acquisition of debt but one that is adept at managing its debt portfolio by creating a positively skewed balance between new loans and paying down older ones. Thus, rather than impugn the capacity and the good standing of the government’s debt management approach, we submit that the Tinubu administration should be seen for what it is: a genuinely reform-focused administration.
On the whole, whereas the World Bank approved six projects valued at $4.25 billion for Nigeria in 2024, the actual disbursements between 2023 and 2024 amounted to $2.36 billion, a distant figure from the $9.5 billion Senator Ndume insinuated was the credit disbursed by the bank on account of parliamentary approvals.
We find Senator Ndume’s misstatements on development-backed loans deeply troubling and unworthy of a ranking lawmaker tasked with advancing Nigeria’s development priorities. Misrepresenting data to score political points is manipulative and undermines informed public debate.
We urge all policymakers, especially those in positions of authority, to prioritise accuracy and transparency in public discourse. Nigerians deserve nothing less than the unvarnished truth on critical national matters.
Omoniyi M. Akinsiju PhD
Chairman,
Independent Media and Policy Initiative (IMPI)
April 2025
Politics
2027: More Than 50 Lawmakers Lose APC Reps Tickets in Major Primary Election
No fewer than 50 members of the 10th House of Representatives are unlikely to be part of the 11th Assembly after losing out in the All Progressive Congress (APC) primaries held on Saturday.
This marks one of the largest turnovers of sitting federal lawmakers since 2015 and signals intensifying internal competition within the ruling party eight months to the 2027 general elections.
While House Speaker Tajudeen Abbas (Kano) and Deputy Speaker Benjamin Kalu (Abia) successfully defended their tickets, several ranking and long-serving lawmakers were defeated, exposing strong anti-incumbent sentiment and the decisive role of state governors in candidate selection.
Major casualties
One of the biggest upsets was the defeat of House Majority Leader Julius Ihonvbere in Edo State’s Owan Federal Constituency. He polled 1,005 votes out of 7,587 cast, finishing third behind Andrew Ijegbia, who scored 3,695 votes. Abdul Oroh placed second with 1,740 votes.
In Delta State, veteran lawmaker Nicholas Mutu, who has represented Bomadi/Patani Federal Constituency since 1999, lost his re-election bid. Ngozi Okolie also lost the Aniocha/Oshimili ticket to former House Minority Leader Ndudi Elumelu.
Cross River State recorded one of the highest casualty rates, with five of eight incumbents failing to secure re-nomination.
They include three-term member Mike Etaba (Obubra/Etung), Godwin Offiono (Ogoja/Yala), Emil Inyang (Akamkpa/Biase), and Bassey Akiba (Odukpani/Calabar Municipality).
Only Peter Akpanke, Joseph Bassey, and Victor Abang won return tickets.
In Plateau State, conflicting results in Pankshin/Kanke/Kanam Federal Constituency triggered early confusion. One returning officer declared challenger John Tongshinen winner with 29,968 votes against incumbent Yusuf Gagdi’s 5,849.
The APC Plateau State primaries committee, chaired by Stella Okotete, later dismissed that declaration as unauthorised and affirmed Mr Gagdi as the authentic winner with 29,207 votes.
At a press briefing, Mrs Okotete stated that Nandom Kura was the recognised returning officer. “The returning officer approved by my committee that has gone to do fake declaration is null and void,” she said.
Other significant losses occurred in Ogun State (at least five incumbents, including Deputy Chief Whip Ibrahim Isiaka and Tunji Akinosi) and Ekiti State (three sitting members).
Politics
PDP to screen Goodluck Jonathan on Tuesday as its sole Presidential aspirant For 2027 race
The Peoples Democratic Party (PDP), led by Tanimu Turaki, SAN, has scheduled to screen former president Goodluck Jonathan tomorrow, Tuesday, aMay 19, as the lone presidential candidate of party.
According to a statement from the PDP faction backed by the Oyo State Governor, Seyi Makinde, Former Vice-President Namadi Sambo, former governor of Plateau State, Jona Jang and a former Minister of Foreign Affairs, Tom Ikimi have been listed among a committee of 14 members to screen Jonathan described as a lone candidate by the party.
Other members of the committee were Chief Olabode George, Babangida Aliyu, Maryam ciroma, Zainab Maina, Josephine Anenin, Dr. Abdul Bulama, Dr. Esther Uduehi, Edo State PDP chairman, Tony Aziegbemi, Dr. Sunday Solarium and Chief Anicho Okoro, who would serve as administrative secretary of the committee.
Last week, the national Publicity Secretary of the faction, Ini Ememobong, disclosed that former president Jonathan has successfully registered as a member of the party in the fresh digital registration exercise directed by INEC.
The PDP faction also announced that it was set to screen 748 house of representatives aspirants, 198 senatorial aspirants, and 112 governorship aspirants.
The screening committee would screen 2122 states houses of assembly aspirants. The exercise will commence tomorrow, Tuesday in different states.
According to the statement, the screening exercise would take place nationwide on Tuesday, May 19, 2026, at 10:00 a.m.
The statement said the Interim National Working Committee (iNWC) has also released the names of members to serve on the Screening Committees and Screening Appeal Panels.
It added that the publication of the screening details “is in accordance with the party’s guidelines and timetable for the conduct of the 2027 general elections.”
Politics
Oshiomhole wins Edo APC senatorial primaries unopposed
A former governor and incumbent Senator, Adams Oshiomhole, along with his counterpart Senator Joe Ikpea, sailed through the All Progressives Congress senatorial primary in Edo unopposed, and securing their tickets without a single vote cast against them.
Also Omoregie Ogbeide-Ihama emerged the winner in the APC primary for the Edo South senatorial district.
Ogbeide-Ihama won in the seven local government areas of Edo South in the results announced by the Chairman of APC National Assembly Primary Election, Muhammed Ajana at the Urokpota Hall, Benin.
He polled 27,154 votes while his opponents, Senator Neda Imasuen, got 13,580, and Pastor Osagie Ize-Iyamu got 6785.
The elections were hitch-free in Edo North and Edo Central, where there was no contest against the incumbents, Senators Oshiomhole of Edo North and Ikpea of Edo Central, respectively.
Ajana at the Urokpota Hall said the collation arose from votes cast in the seven local government areas made up of 77 wards where elections were conducted by members of the committee.
He said, “There are seven local governments that make up the Edo South Senatorial District. We have heard from the Returning officers from the seven local government areas. From the collation, the cumulative result we have for Edo South Senatorial District is this; Ogbeide-Ihama with 27,154 votes, Imasuen with 13,580 votes and Ize-Iyamu with 6, 785.
“This is the total reflection of what has transpired from the ward level to the local government and the Edo South senatorial district collation centre. With this we await further directives from the National Secretariat, we have done our best by collating the results which is our mandate, to collate the results and send them to the National Secretariat.”
However, it was gathered that Ize-Iyamu emerged as the APC candidate for Edo South Senatorial race. He claimed to have clinched the party’s ticket after defeating Ogbeide-Ihama and Imasuen.
It was claimed that the Chief Returning Officer, Abubakar Muhammad Kabiru, officially declared Ize-Iyamu the winner after securing the highest number of votes cast.
On his part, the senator representing the district condemned the exercise describing it as a sham allegedly designed to favour a preferred aspirant.
Imasuen spoke while reacting to events at his polling unit in Umagbae North Ward 5, Urhokuosa where he said he was denied the opportunity to vote following what he described as a chaotic and manipulated process.
The lawmaker accused leaders of the party of openly adopting a preferred candidate ahead of the exercise and intimidating members into supporting that aspirant.
He said, “There is nothing satisfactory about this sham of election they did today and it is very unfortunate because as a loyal party member, I expected something better than this.”
He said the warning signs emerged days before the primary when some ward chairmen allegedly informed him that they had been directed not to receive him during consultations.
Imasuen claimed that some ward leaders openly told him the party had already adopted a preferred aspirant, identified as Hon. Omoregie Ogbeide-Ihama, making further consultations unnecessary.
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GOVERNOR FUBARA APPOINTS COUNCIL MEMBERS FOR KEN SARO-WIWA POLYTECHNIC BORI
